Oruka Therapeutics (NASDAQ:ORKA) Sets New 52-Week Low – Time to Sell?

Oruka Therapeutics, Inc. (NASDAQ:ORKA) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $18.23 and last traded at $18.33, with a volume of 7234 shares traded. The stock had previously closed at $18.51.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TD Cowen initiated coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They issued a “buy” rating for the company. Lifesci Capital began coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set an “outperform” rating and a $41.00 target price for the company. Leerink Partnrs upgraded Oruka Therapeutics to a “strong-buy” rating in a research report on Tuesday, September 17th. Jefferies Financial Group began coverage on Oruka Therapeutics in a research note on Friday, September 13th. They issued a “buy” rating and a $40.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a report on Monday. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Oruka Therapeutics currently has an average rating of “Buy” and an average target price of $43.17.

Oruka Therapeutics Stock Performance

The firm has a market cap of $679 million, a PE ratio of -2.96 and a beta of 0.87. The stock’s 50-day moving average price is $26.02.

Institutional Trading of Oruka Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC bought a new position in shares of Oruka Therapeutics in the 3rd quarter valued at $343,000. The Manufacturers Life Insurance Company acquired a new position in Oruka Therapeutics in the 3rd quarter worth about $1,037,000. Wellington Management Group LLP bought a new position in Oruka Therapeutics in the third quarter valued at about $2,013,000. Janus Henderson Group PLC acquired a new stake in shares of Oruka Therapeutics during the third quarter valued at about $5,840,000. Finally, Redmile Group LLC bought a new stake in shares of Oruka Therapeutics during the third quarter worth about $10,091,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

Oruka Therapeutics Company Profile

ARCA biopharma, Inc, a biopharmaceutical company, develops genetically-targeted therapies for heart failure and cardiovascular diseases. It is positioned to bring personalized therapies for the treatment of cardiovascular disease, through the use of genetics. Complementing the Company’s cardiovascular science, ARCA’s management team has significant experience in developing and commercializing cardiovascular products.